Oil Prices Plummet On Global Growth Fears

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1. Oil Prices Plummet On Global Growth Fears
Oil prices plummeted this week amid concerns over slowing global economic growth that could hit demand for petroleum products. Indicatively U.S. crude is currently for a seventh weekly overall decline. In early Friday trading oil prices stabilised to trade flat after a long bearish Thursday session. It should be noted that data on Wednesday showing a large build in U.S. inventories fostered fears about the outlook for fuel demand, while crude was also pressured by broader selling of industrial commodities and by the Turkish financial crisis.*

2. Dollar Dips On US-China Trade Talks
The dollar stepped back from 13-1/2-month highs against other major currencies on Friday as talks next week between China and the United States offered some hope that the world’s two largest economies could reach a compromising deal and avoid a full-blown trade war. It should be noted that the dollar index had climbed to 96.984, its highest since late June 2017 on Wednesday during a week in which a plunge by the Turkish lira and concerns over China’s economic health drove demand for the greenback higher.**

3. Home Depot Declares Second Quarter Dividend Of $1.03
Home Depot, the world’s largest home improvement retailer, announced on Thursday that its board of directors declared a second quarter cash dividend of $1.03 per share. The dividend is payable on September 13, 2018, to shareholders of record on the close of business on August 30, 2018. This is the 126th consecutive quarter the company has paid a cash dividend. The news pushed HD 0.7 percent higher to close at $195.39***

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*Source: CNBC, Aug 17, 2018 3:56 AM ET
**Source: Reuters, Aug 17, 2018 5:35 AM ET
***Source: Seeking Alpha Aug 16, 2018, 10:55 AM

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